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Wipro posts Rs 30.5 bn as Q3 net

Indo Asian News Service by Indo Asian News Service
13/01/2023
in Business
1 min read
Wipro posts Rs 30.5 bn as Q3 net
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Chennai: Technology services and consulting company Wipro Ltd closed the third quarter of FY23 with a net profit of Rs 30.5 billion.

The company board at their meeting on Friday declared an interim dividend of Re 1 per equity share.

Wipro had earned a revenue of Rs 232.3 billion (Q3FY22 Rs.203 billion) and a net profit of Rs 30.5 billion (Rs 29.6 billion).

According to CEO and Managing Director Thierry Delaporte, the margins improved by 120 basis points and the employee attrition moderated for the fourth quarter in a row.

“We are continuing to gain market share as a result of deepening client relationships and higher win rates,” Delaporte said.

Chief Financial Officer Jatin Dalal said: “This expansion of margins was after absorbing the investments we made in our people by way of salary increases, promotions and long-term incentives for our senior leadership. Margin growth was led by strong operational improvements and automation-led efficiencies. We generated strong operating cash flows at 143 per cent of our net income for the quarter and our EPS increased by 14.6 per cent quarter-over-quarter.”

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Indo Asian News Service

Indo Asian News Service

  • Need to change our mindset

    Roscoe Pound’s Theory of Social Engineering

    922 shares
    Share 369 Tweet 231
  • Laboratory bearers working in School Education department demand promotion

    775 shares
    Share 310 Tweet 194
  • Sanjiv Bhagat inaugurates free legal aid clinic at Bodh Kharboo

    501 shares
    Share 200 Tweet 125
  • Republic Day – Celebrating 74 years of India’s glory 

    495 shares
    Share 198 Tweet 124
  • DHSK to launch  mental health awareness campaign today

    495 shares
    Share 198 Tweet 124
  • Fire breaks out in civil secretariat

    499 shares
    Share 200 Tweet 125
  • Cold Conditions Intensify In J&K; Pahalgam, Kupwara Record Season’s Coldest Night; Srinagar Shivers At Minus 5.6°C

    497 shares
    Share 199 Tweet 124
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